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Friday, August 12, 2005

Yahoo's record investment into China

As a sign of times, Yahoo reports that it wants to purchase an approximately 35% stake in China's biggest homegrown e-commerce company for almost US$1 billion, in what would be the biggest investment by a foreign company in China's Internet industry to date. This investment clearly underlines the tremendous potential that China has for e-commerce companies, but also hightlights the competitive forces at play.

Alibaba operates two online business, an online auction site, and, an online trading site.

"An agreement between Yahoo! and Alibaba would be a setback for eBay, which has been expanding its investments in China's online auction business and had been seen as interested in partnering with Alibaba."

(By Asia Business Consulting)